Apollo Global Management Acquires AURUM

Apollo Global Management Acquires AURUM

Apollo Global Management has signed an agreement to acquire AURUM Holdings, a prestige and luxury jewelry retailer.  The acquisition is expected to close in the first quarter of 2013.

AURUM is the largest prestige and luxury jeweler in the UK, which includes the Watches of Switzerland, Mappin & Webb and Goldsmiths brands within its portfolio.  Goldsmiths also has the largest distribution network for Rolex, Cartier, Omega, Tag Heuer.  The company has over 120 stores and a transactional website.  Goldsmiths was founded in 1778 and is based in Braunstone, Leicester, UK (www.goldsmiths.co.uk).

“AURUM is a leader within the luxury watch retail industry and it has established an enviable position in the United Kingdom driven by exceptional service and customer experience and strong partnerships with most of the world’s major watch brands. We look forward to working closely with Justin Stead and his team to drive growth through enhancement of its leading market position in luxury watches and further development of its jewelry offering,” said Sanjay Patel, Head of International Private Equity for Apollo.

Apollo is a global alternative investment manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong.  Apollo has assets under management of approximately $110 billion in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources (www.agm.com).

“The acquisition by Apollo will provide AURUM with an outstanding platform for the company’s anticipated future growth and the development of compelling opportunities that exist within the business currently. Throughout the last three years AURUM has outperformed the market and this is a credit to Justin Stead, Chief Executive and the AURUM management team who have executed a robust and focused strategic plan,” said Don McCarthy, current Chairman of AURUM who is stepping down at the close of this transaction.  “It has been an incredibly rewarding experience to be part of the business and I would like to thank Landsbanki, AURUM’s existing shareholder, for their support, Justin, and the entire AURUM team for their professionalism and dedication steering AURUM through a significant period of growth, and I am confident the business will continue to grow in the future with Apollo’s support.”

Apollo was advised by DC Advisory for the purpose of raising the financing of the acquisition.

© 2012 PEPD • Private Equity’s Leading News Magazine • 12-7-12

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